Euroseas (NASDAQ:ESEA) Shares Pass Above 200 Day Moving Average - Here's What Happened

Euroseas Ltd. (NASDAQ:ESEA - Get Free Report)'s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $35.55 and traded as high as $49.52. Euroseas shares last traded at $49.11, with a volume of 47,267 shares changing hands.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Maxim Group boosted their price objective on Euroseas from $57.00 to $62.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Wall Street Zen upgraded Euroseas from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st.

Euroseas Stock Performance

The company has a market capitalization of $336.90 million, a P/E ratio of 2.59 and a beta of 0.81. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.68 and a current ratio of 1.74. The firm has a 50 day moving average price of $41.76 and a two-hundred day moving average price of $35.56.

Euroseas (NASDAQ:ESEA - Get Free Report) last released its quarterly earnings data on Wednesday, June 18th. The shipping company reported $3.76 EPS for the quarter, beating analysts' consensus estimates of $3.35 by $0.41. The business had revenue of $54.74 million during the quarter, compared to analysts' expectations of $53.92 million. Euroseas had a net margin of 58.28% and a return on equity of 31.70%. During the same quarter in the prior year, the company earned $2.66 EPS. On average, research analysts expect that Euroseas Ltd. will post 15.15 earnings per share for the current fiscal year.

Euroseas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 16th. Stockholders of record on Wednesday, July 9th will be paid a dividend of $0.65 per share. The ex-dividend date is Wednesday, July 9th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 5.41%. Euroseas's dividend payout ratio (DPR) is currently 14.00%.

Hedge Funds Weigh In On Euroseas

Hedge funds have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership lifted its holdings in Euroseas by 389.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 53,840 shares of the shipping company's stock worth $1,949,000 after buying an additional 42,830 shares during the period. Renaissance Technologies LLC lifted its holdings in Euroseas by 17.0% during the 4th quarter. Renaissance Technologies LLC now owns 115,078 shares of the shipping company's stock worth $4,166,000 after buying an additional 16,700 shares during the period. Mariner LLC acquired a new position in Euroseas during the 4th quarter worth about $306,000. Marshall Wace LLP lifted its holdings in Euroseas by 71.5% during the 4th quarter. Marshall Wace LLP now owns 40,703 shares of the shipping company's stock worth $1,473,000 after buying an additional 16,969 shares during the period. Finally, Bank of America Corp DE lifted its holdings in Euroseas by 1,611.0% during the 4th quarter. Bank of America Corp DE now owns 1,865 shares of the shipping company's stock worth $68,000 after buying an additional 1,756 shares during the period. Institutional investors own 6.27% of the company's stock.

About Euroseas

Euroseas Ltd. provides ocean-going transportation services worldwide. The company owns and operates containerships that transport dry and refrigerated containerized cargoes, including manufactured products and perishables. As of March 31, 2024, it had a fleet of 20 containerships with a cargo carrying capacity of approximately 777,749 dwt.